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Chartered Tax Professional

people holding a tax document

 

Become a Chartered Tax Professional

Chartered Tax Professionals (CTP®) help individuals and organizations manage their income tax situations and file their income tax returns. The CTP® designation is the most widely recognized qualification for tax-specific professionals. In this 100% online course, you will learn to prepare income tax returns for most US citizens, along with small businesses, partnerships, and sole proprietorships. Upon successful completion, you will be eligible to prepare individual returns professionally. You will also have the knowledge needed to sit for the Special Enrollment Exam, which individuals take to become Enrolled Agents under the auspices of the US Internal Revenue Service (IRS).

 

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Job Outlook for Chartered Tax Professional

  • The US Bureau of Labor Statistics (BLS) expects the demand for Accountants and Auditors to increase by 4% between now and 2029. This matches anticipated growth for all job categories. The BLS notes that professionals who have earned industry-recognized designations will enjoy the strongest demand for their skills.
  • According to the BLS, Tax Preparers earn $23.82 per hour, or $49,550 per year, on average. Most Tax Preparers earn between $28,450 and $63,070 per year. Wages for top Tax Preparers average $87,060 per year.

Course Objectives

  • Master preparing taxes for individuals, small businesses, partnerships, and sole proprietorships
  • Prepare for the IRS Enrolled Agent exam
  • Learn how to conduct a professional tax preparation client interview
  • Practice and work as a qualified tax professional
  • Learn how to prepare tax returns for all individual U.S. taxpayers
  • Understand the ethical responsibilities of tax professionals
  • Start working and earning money after completing the first two modules of the course
  • Develop a professional vocabulary and the communication skills required to flourish in the accounting world
  • Become qualified to prepare taxes for a variety of tax-holders and small companies
  • Possess the necessary knowledge and skillset required to pass the IRS Enrolled Agent exam

 

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Prerequisites and Requirements

A high school diploma or equivalent is a prerequisite for this course. Accounting and specific math skills aren't required, just the aptitude to work with numbers and people and to read and interpret the tax laws.

If you are taking this course to begin a career in taxation you will need to meet the following requirements:

  • Complete Comprehensive Tax Course (located within the course)
  • Register with the IRS and get a PTIN
  • Begin preparing tax returns as a tax preparer

 

Curriculum

COMPREHENSIVE INCOME TAX COURSE (FOR INDIVIDUALS)

Learn a detailed account of how to file an individual's income tax return. You'll cover forms W-2, 1099, and 1040 in detail.

ADVANCED INCOME TAX COURSE (FOR INDIVIDUALS)

Understand the fundamentals of tax preparation before moving on to advanced income tax best practices. Cover things like special credits, capital gains, sale of stock, and more.

ADVANCED INCOME TAX COURSE – LEVEL II (FOR INDIVIDUALS)

Learn about unique tax situations that require special attention such as net operating losses, tax issues for divorced taxpayers, tax issues for high-income taxpayers, and more.

INCOME TAX COURSE – LEVEL I (FOR SMALL BUSINESSES)

Discover the best practices for preparing taxes for small businesses. Review various business types and accounting methods so you'll be better prepared to advise future clients.

INCOME TAX COURSE – LEVEL II (FOR SMALL BUSINESSES)

Master dealing with partnership and corporation issues. Understand the sales and liquidations of business and how it pertains to accounting. Cover what to do when your client owes the IRS and how to correct or amend past business returns.

 

Chartered Tax Professional FAQs

Chartered Tax Professionals need a comprehensive and current knowledge of income tax laws, forms and procedures. The Income Tax School, which oversees the Chartered Tax Certificate Program, notes that increasing complexity in tax regulations is a strong driver of demand among those who hold the CTP® designation. CTP®s also need communication, negotiation and organization skills to work with clients and manage their practices.

The CTP® prepares you to provide tax services to most US citizens. However, individual states may issue and control their own license and certification requirements. For example, residents of California are subject to the California Tax Education Council (CTEC) and should take the Chartered Tax Professional for California Residents course to meet those requirements.

While automation is impacting all careers, tax professionals provide services that their clients either cannot or prefer not to do for themselves or turn over to automated systems. CTP®s offer a personal presence and the assurance of a strong credential to clients who’s well-being often relies on complete and accurate tax preparation. As long as taxes are complex and fast-changing, it is likely that Chartered Tax Professionals will be in demand.

Instructors - Peoples Income Tax, Inc.
Instructor support is provided through email by experienced practicing tax professionals employed by Peoples Income Tax, Inc., a sister company of The Income Tax School.

Registration and Enrollment
This course is open enrollment. You can enroll and begin any time.

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